Promoting All-Age Finance: Peng Jin-lung Outlines 3 Key Dimensions to Redefine Insurance Services
As Taiwan faces a super-aged society by 2025, FSC Chairman Peng Jin-lung urged the insurance industry to redefine its services. He proposed three major directions: shifting to proactive prevention, diversifying benefit payouts, and adopting new technologies to ensure sustainable support for all age groups.
📋 Article Processing Timeline
- 📰 Published: April 24, 2026 at 20:21
- 🔍 Collected: April 24, 2026 at 20:32 (10 min after Published)
- 🤖 AI Analyzed: April 24, 2026 at 22:29 (1h 57m after Collected)
(Central News Agency, Reporter Su Su-yu, Taipei, 24th) As Taiwan steps into a super-aged society in 2025, Financial Supervisory Commission (FSC) Chairman Peng Jin-lung stated today that to promote an all-age financial policy, the insurance industry should consider meeting the needs of all age groups in the future. This can be approached from three major dimensions: adopting new thinking, redefining insurance benefits and coverage items, and strengthening new technologies while seeking new talent. He hopes that insurance services can become the best boost for Taiwan's future transformation.
The 2026 Taiwan Life Insurance Industry Forward-looking Summit was held this afternoon. Attendees included FSC Chairman Peng Jin-lung, Life Insurance Association Chairman Chen Hui-you, and FSC Insurance Bureau Director-General Wang Li-hui.
In 2025, Taiwan will enter a super-aged society, with the population aged 65 and over accounting for more than 20%. In his speech, Peng Jin-lung stated that human history has never been so "uniformly old." The insurance industry has not undergone major structural changes over the past few centuries. However, whether the past business models can adapt to the drastic changes in the current demographic structure remains a question. If the industry can respond properly, it can turn the crisis into an opportunity, and even into endless commercial prospects.
Peng Jin-lung explained that the goal of the FSC's all-age financial policy is that, in the face of demographic changes, the financial sector should redefine and rethink the content and structure of financial and insurance services, hoping that all customers can receive appropriate financial support at different stages of life.
Under the concept of all-age insurance, Peng Jin-lung proposed three major directions and hopes to work together with all sectors. First, the insurance industry should adopt new thinking, shifting from the passive "post-event compensation" of the past to a more active, forward-looking role of "proactive prevention," helping society reduce overall risks.
Second, redefine insurance benefits and coverage items. Instead of focusing solely on cash payouts as in the past, the industry should consider providing more diverse service benefits in the future, such as the current in-kind benefits, and offer greater flexibility in the timing and choice of benefits, potentially spawning entirely new service models.
Third, the insurance industry must strengthen the application of new technologies and recruit new talent. Insurance operations mostly use past experience incidence rates to determine future costs, which is viable in stable times. However, faced with entirely new demands and risks, it may be impossible to rely on traditional mortality tables and incidence rates to determine future operating costs.
Peng Jin-lung pointed out that as a regulatory authority, the FSC has noticed this problem and has begun to adjust the direction and methods of product review. It hopes to assist the insurance industry in using new technologies to train new talent and provide entirely new services.
Peng Jin-lung stated that regarding the future scope of statutory insurance business, the attributes of insurance products and regulatory methods, as well as which cross-industry collaborations the insurance industry can engage in, the FSC has already begun working on these areas. He hopes to build a secure and stable insurance market regulatory framework that meets the needs of all ages, and he looks forward to insurance services becoming the best asset in assisting Taiwan's transformation.
Chen Hui-you pointed out that many people in the over-65 age group are energetic today, and the government should redefine the definition of the elderly. As Taiwan's aging process continues to deepen, it will profoundly impact not only population aging but also family structures, employment structures, and retirement preparation methods. Comprehensive support for the elderly should not be limited to the survival benefits of annuity insurance, but should also include the two major dimensions of health promotion and financial autonomy. With the advent of the super-aged era, it is expected that diverse insurance product planning will replace the full-compensation insurance mechanisms of the past. (Editor: Yang Lan-hsuan) 1150424
The 2026 Taiwan Life Insurance Industry Forward-looking Summit was held this afternoon. Attendees included FSC Chairman Peng Jin-lung, Life Insurance Association Chairman Chen Hui-you, and FSC Insurance Bureau Director-General Wang Li-hui.
In 2025, Taiwan will enter a super-aged society, with the population aged 65 and over accounting for more than 20%. In his speech, Peng Jin-lung stated that human history has never been so "uniformly old." The insurance industry has not undergone major structural changes over the past few centuries. However, whether the past business models can adapt to the drastic changes in the current demographic structure remains a question. If the industry can respond properly, it can turn the crisis into an opportunity, and even into endless commercial prospects.
Peng Jin-lung explained that the goal of the FSC's all-age financial policy is that, in the face of demographic changes, the financial sector should redefine and rethink the content and structure of financial and insurance services, hoping that all customers can receive appropriate financial support at different stages of life.
Under the concept of all-age insurance, Peng Jin-lung proposed three major directions and hopes to work together with all sectors. First, the insurance industry should adopt new thinking, shifting from the passive "post-event compensation" of the past to a more active, forward-looking role of "proactive prevention," helping society reduce overall risks.
Second, redefine insurance benefits and coverage items. Instead of focusing solely on cash payouts as in the past, the industry should consider providing more diverse service benefits in the future, such as the current in-kind benefits, and offer greater flexibility in the timing and choice of benefits, potentially spawning entirely new service models.
Third, the insurance industry must strengthen the application of new technologies and recruit new talent. Insurance operations mostly use past experience incidence rates to determine future costs, which is viable in stable times. However, faced with entirely new demands and risks, it may be impossible to rely on traditional mortality tables and incidence rates to determine future operating costs.
Peng Jin-lung pointed out that as a regulatory authority, the FSC has noticed this problem and has begun to adjust the direction and methods of product review. It hopes to assist the insurance industry in using new technologies to train new talent and provide entirely new services.
Peng Jin-lung stated that regarding the future scope of statutory insurance business, the attributes of insurance products and regulatory methods, as well as which cross-industry collaborations the insurance industry can engage in, the FSC has already begun working on these areas. He hopes to build a secure and stable insurance market regulatory framework that meets the needs of all ages, and he looks forward to insurance services becoming the best asset in assisting Taiwan's transformation.
Chen Hui-you pointed out that many people in the over-65 age group are energetic today, and the government should redefine the definition of the elderly. As Taiwan's aging process continues to deepen, it will profoundly impact not only population aging but also family structures, employment structures, and retirement preparation methods. Comprehensive support for the elderly should not be limited to the survival benefits of annuity insurance, but should also include the two major dimensions of health promotion and financial autonomy. With the advent of the super-aged era, it is expected that diverse insurance product planning will replace the full-compensation insurance mechanisms of the past. (Editor: Yang Lan-hsuan) 1150424